Cardlytics Target of Unusually High Options Trading (NASDAQ:CDLX)

Key Points

• Traders bought a significant volume of 4,383 call options for Cardlytics (NASDAQ:CDLX), representing a 255% increase from the usual trading volume.
• Wall Street analysts have rated Cardlytics as a Moderate Buy with an average price target decreasing from $3.00 to $2.00.
• Cardlytics' stock increased by 15.5% during trading, reaching $3.18, with a notable trading volume of over 21 million shares.

Cardlytics, Inc. (NASDAQ:CDLX - Get Free Report) was the target of some unusual options trading on Friday. Stock traders purchased 4,383 call options on the company. This is an increase of 255% compared to the typical volume of 1,235 call options.

Cardlytics Stock Up 10.9%

Shares of NASDAQ CDLX traded up $0.24 during midday trading on Tuesday, reaching $2.39. The company's stock had a trading volume of 3,701,820 shares, compared to its average volume of 2,195,829. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 2.87. Cardlytics has a fifty-two week low of $0.85 and a fifty-two week high of $5.24. The stock has a market capitalization of $126.98 million, a price-to-earnings ratio of -0.65 and a beta of 1.19. The stock has a 50 day simple moving average of $1.53 and a 200-day simple moving average of $1.70.

Insiders Place Their Bets

In other Cardlytics news, CEO Amit Gupta sold 68,685 shares of the firm's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $1.12, for a total value of $76,927.20. Following the completion of the sale, the chief executive officer owned 491,759 shares in the company, valued at approximately $550,770.08. This trade represents a 12.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 156,265 shares of company stock valued at $187,768. Company insiders own 4.40% of the company's stock.

Institutional Trading of Cardlytics

Several institutional investors and hedge funds have recently bought and sold shares of CDLX. Catalyst Funds Management Pty Ltd bought a new position in shares of Cardlytics in the second quarter valued at $32,000. Post Resch Tallon Group Inc. lifted its stake in Cardlytics by 100.0% in the second quarter. Post Resch Tallon Group Inc. now owns 20,000 shares of the company's stock valued at $33,000 after acquiring an additional 10,000 shares during the last quarter. Sand Hill Global Advisors LLC acquired a new stake in Cardlytics in the second quarter valued at $35,000. Jump Financial LLC acquired a new stake in Cardlytics in the first quarter valued at $41,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Cardlytics in the second quarter valued at $42,000. Institutional investors own 68.10% of the company's stock.

Analysts Set New Price Targets

Separately, Evercore ISI lowered their price objective on Cardlytics from $3.00 to $2.00 and set an "in-line" rating for the company in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Cardlytics has a consensus rating of "Moderate Buy" and an average price target of $2.25.

About Cardlytics

Cardlytics, Inc operates an advertising platform in the United States and the United Kingdom. It offers Cardlytics platform, a proprietary native bank advertising channel that enables marketers to reach customers through their network of financial institution partners through digital channels, such as online, mobile applications, email, and various real-time notifications; and Bridg platform, a customer data platform which utilizes point-of-sale data and enables marketers to perform analytics and targeted loyalty marketing, as well as measure the impact of their marketing.